Tutor Perini Corporation's joint venture has executed a contract with the California High-Speed Rail Authority (CHSRA) for the design and construction of the initial Madera to Fresno segment of the California high-speed rail system.

The contract is valued at approximately $985 million, plus an additional $53 million in provisional sums. Tutor Perini is the managing partner of the joint venture team, which includes Zachry Construction Corporation of San Antonio, Texas, and Parsons Corporation of Pasadena, Calif.

Ronald Tutor, chairman and CEO of Tutor Perini, said, "We are truly excited to be building the groundwork for America's first high-speed rail system and look forward to working with CHSRA to deliver a high-quality project that will modernize California's transportation system and support economic growth."